“We have a number of high–growth startups in the Corridor, but we need to have dozens more to really build the critical mass of an entrepreneurial ecosystem that can survive over the long term,” says Engelmann, president and CEO of Geonetric and founding sponsor of the accelerator. “Accelerators are designed to attract and produce early stage startups, and rapidly increase the odds of each startup’s success — exactly what we need.”

During the program, the 10 teams will work in a fully–furnished, collaborative workspace in Geonetric’s currently–under–construction 45,000 square–foot building in the New Bohemia neighborhood. The accelerator is set to induct its first teams in the summer of 2014, shortly after the building officially opens. Teams will compete for up to 10 spots in the accelerator program and accepted teams will receive seed funding, access to a broad mentor network, entrepreneurial boot camp training, and 10 gigabit fiber Internet provided by ImOn Communications. The 90–day program culminates in a “demo day” in which each startup shows off its progress for potential customers and investors.

The Iowa Startup Accelerator will share space with Vault in the new building, which will create even more collaboration and excitement in and around the entrepreneurial community. What a monumental step for startups in Iowa. Thank you Eric and Ben for taking the lead on this and making it happen!

“I think that the Corridor needs a wider variety of interesting job offerings for Generation Y and millennials, and that’s going to come from a vibrant start-up community launching businesses that they can change the world with,” said Eric Engelmann, Geonetric’s president and CEO. “The accelerator is a way to make that happen.” - See more at: http://thegazette.com/2013/09/